WASHINGTON — A Federal Reserve voting member says the Fed's decision to announce details about when it would trim its bond-buying program was "inappropriately timed."
St. Louis Federal Reserve Bank President James Bullard says the Fed should have waited for more "tangible signs" that the economy was strengthening and inflation was closer to the Fed's 2 percent target.
Chairman Ben Bernanke said Wednesday after a two-day policy meeting that the Fed would likely slow its $85 billion-a-month program later this year and end it next year if the economy continued to strengthen. The purchases have helped keep long-term interest rates at record lows.
At the meeting, Bernanke was authorized to make that announcement. Bullard objected to the decision, according to an explanation of his vote posted Friday on the regional bank's website.
- 'Pay the price or go dark': Going digital a...
- Utah unemployment rate hits five-year low
- Target data breach: Credit monitoring will...
- David Sturt: Have you failed enough?
- Dave Ramsey says: Don't waste your time,...
- Girls who play with Barbie may not see their...
- Bitcoin controversy marks Newsweek's comeback
- Veteran news executive joins Deseret News
- Attempt to raise minimum wage in Utah... 31
- Dave Ramsey says: Don't waste your... 12
- Girls who play with Barbie may not see... 12
- 'Pay the price or go dark': Going... 9
- Utah unemployment rate hits five-year low 8
- Demolition underway on major downtown... 5
- House approves convention hotel bill 4
- Carry-on crackdown: United Airlines... 3